Nigeria has surpassed its National Financial Inclusion Strategy target, with formal financial inclusion rising to 73% in 2026, encompassing 87.2 million adults. Despite this progress, a significant "access-health gap" persists, as only 30.7% of these individuals are considered financially healthy. Data from the 2026 Access to Financial Services in Nigeria survey highlights that 60.4 million formally included adults remain vulnerable. Furthermore, formal credit usage is increasingly driven by consumption and survival needs rather than productive enterprise, with coping loans now outpacing business borrowing. Insurance and pension penetration remain notably low at 5.2% and 9% respectively, as financial stress and repayment difficulties grow amid elevated borrowing costs.